Share­hold­ers Approve Truth Social Merg­er; Trump’s Social Media Com­pa­ny To Go Pub­lic

Shareholders Approve Truth Social Merger; Trump’s Social Media Company To Go Public

Truth Social, the social media com­pa­ny found­ed by for­mer Pres­i­dent Don­ald Trump, is set to go pub­lic as soon as next week after share­hold­ers vot­ed Fri­day to approve a merg­er with a shell com­pa­ny.
The merg­er means those who hold stock in Dig­i­tal World Acqui­si­tion, a spe­cial-pur­pose acqui­si­tion com­pa­ny (SPAC), will now be share­hold­ers of Trump Media & Tech­nol­o­gy Group, the par­ent com­pa­ny of Truth Social, The New York Times report­ed. The deal will also pro­vide Trump Media with more than $300 mil­lion, and the com­pa­ny will replace Dig­i­tal World Acqui­si­tion on the stock mar­ket under the tick­er DJT, Trump’s ini­tials.
Based on Dig­i­tal World Acquisition’s cur­rent price of near­ly $42 a share, Trump Media will hit the mar­ket with a val­ue of around …